Royce Premier Fund

The fund's portfolio manager allocates its capital into a focused collection of equity securities, generally holding fewer than 100 different stocks. Its primary objective is to invest in small-capitalization companies at the time of purchase. Typically, at least 80% of the fund's net assets are committed to shares of these selected "premier" companies. Moreover, when these securities are acquired, at least 65% must be issued by small-cap enterprises.